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A community model for dementia care gets backing from Australian pension fund

The Korongee village community in Tasmania will have 15 homes, a supermarket, cinema, and public spaces where residents can move freely and safely.

The new model of care attracted $19 million from HESTA, Australia’s largest “superannuation,” or pension, fund, from its $30 million Social Impact Investment Trust.

Australia has a shortage of facilities and services for an aging population. HESTA’s Debby Blakey said both capital and new care models are necessary.

“This investment will help provide a world-class facility for the local community and benefits our members by earning a return, while also piloting a model for investing in aged care that could attract other large investors to this space.”

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